Bang'er Orthopedic Hospital Group Secures Over RMB 800 Million in Pre-IPO Financing

Recently, Banger Orthopedic Hospital Group (“Banger Orthopedics”), the leading enterprise among China’s chain of specialized orthopedic hospitals, completed a Pre-IPO financing round exceeding RMB 800 million. The round was led by C&D Emerging Investment, with participation from Sunshine Life Insurance, Lake Bleu Capital, China Pacific Insurance, October Capital, Gaoyuan Capital, and other institutions. The support from these prestigious investors demonstrates strong confidence in the company’s future development.

Cheng Dong, Founder and Chairman of Banger OrthopedicHe stated, “The funds raised in this round of financing will further drive the implementation of the Group’s three-year strategic plan, comprehensively advance the digital orthopedics construction of its specialized orthopedic hospitals, and bring leading orthopedic surgical robot technology to primary care institutions. This will enable Banger’s orthopedic surgeries to continue evolving towards minimally invasive, precise, and intelligent procedures, while achieving interconnectivity between tertiary and primary hospitals through 5G technology to facilitate the deployment of mature technologies at the grassroots level. This round of financing will also further support the Group’s nationwide expansion, continuously build China’s leading specialized orthopedic platform, and actively seek collaboration with outstanding peer hospitals to jointly advance the field of orthopedics in China. Furthermore, the funds will be primarily allocated to the continuous improvement of the Group’s standardized operational system and the development of a talent pipeline for orthopedic specialists, laying a solid foundation for future expansion. This financing round will also mark the beginning of deep cooperation between Banger Orthopedics and the insurance industry. We sincerely thank all investors for their support and trust in Banger.”

Banger Orthopedics has steadily emerged as the leading enterprise in China’s chain of orthopedic hospitals through more than 20 years of dedicated specialization in the field. Currently, it holds controlling interests in and operates 17 medical institutions across 16 cities in five provinces. Among these, 16 hospitals are established to secondary or tertiary standards, and one is an internet hospital. The total number of available beds exceeds 5,000, with an annual surgical volume surpassing 40,000 procedures. All affiliated hospitals are specialized or general hospitals featuring expertise in trauma orthopedics, spinal surgery, joint surgery, sports medicine, hand and foot microsurgery, non-surgical treatment centers for neck, shoulder, waist, and leg pain, traditional Chinese medicine orthopedics and traumatology, and rehabilitation. For two decades, “Banger Orthopedics” has consistently upheld its principle of “performing each surgery as a masterpiece and treating every patient as a friend,” while keeping in mind its mission to “enable patients with bone injuries and neck, shoulder, waist, and leg pain to undergo no or fewer surgeries.” To date, it has alleviated the suffering of nearly ten million patients.

In recent years, Banger Orthopedics has actively introduced orthopedic surgical robot technologies centered on internet 5G and artificial intelligence. More than half of its affiliated hospitals are now equipped with robots from well-known domestic and international brands. The Group has officially become one of the founding members of the 5G + Orthopedic Robot Alliance under the National Orthopedic Medical Center at Beijing Jishuitan Hospital. Digital orthopedic technologies have been comprehensively applied in fields such as spine, trauma, joint, and hand surgery. These initiatives significantly facilitate the training of orthopedic surgeons, shortening their learning curve. Furthermore, remote surgeries enabled by 5G technology allow high-quality medical expertise from Beijing, Shanghai, Guangzhou, and provincial capitals to truly reach grassroots communities, ensuring medical safety, improving therapeutic outcomes, and rapidly promoting the standardization and equalization of orthopedic care quality across the Banger Orthopedics hospital network.

Xiamen C&D Emerging Industry Equity Investment Co., Ltd. was established in 2014 as one of the five core business segments of Xiamen C&D Group Co., Ltd. (a Fortune Global 500 company). Specializing in equity investments in emerging industries, the company is committed to becoming a leading equity asset management institution in China’s emerging sectors, driven by a dual-engine strategy encompassing both asset and capital sides. C&D Emerging Investment focuses on investment opportunities related to the innovation and growth of national strategic emerging industries. Adopting a multi-strategy approach centered on “P+D+S,” it prioritizes three key sectors: healthcare, advanced manufacturing, and TMT/consumer goods, thereby facilitating stronger development for more emerging enterprises.

Sunshine Life Insurance Co., Ltd. (hereinafter referred to as “Sunshine Life”) was established on December 17, 2007, with a registered capital of RMB 18.3425 billion. It is a national professional life insurance company under Sunshine Insurance Group Co., Ltd. Since its inception, Sunshine Life has maintained strong growth momentum and continuously enhanced its value. To date, Sunshine Life has established 32 secondary-level institutions and nearly 1,000 tertiary and quaternary branch offices, providing customers with professional insurance coverage for life, pension, medical, health, and accident needs.

Lake Bleu Capital is an investment platform focused on the healthcare sector, headquartered in Hong Kong and Shanghai, with assets under management totaling billions of U.S. dollars. Its secondary market USD fund is one of the longest-standing healthcare-focused secondary market funds in Asia. Lake Bleu Capital is also active in private equity investments within the Asian healthcare industry, having successfully invested in over 60 outstanding healthcare companies. The firm provides diverse value-added services to its portfolio companies, supporting them in capital operations and business collaborations.

China Pacific Insurance (Group) Co., Ltd. is a leading comprehensive insurance group in China and the first insurance company to be listed in three markets: A-shares, H-shares, and GDRs (Shanghai, Hong Kong, and London). Through its specialized subsidiaries, China Pacific Insurance provides customers with comprehensive risk protection solutions, wealth planning, and asset management services. As the specialized private equity fund management platform under the CPIC Group, CPIC Capital initiated the establishment of the CPIC Grand Health Industry Fund in 2021. The fund operates on a market-oriented basis, focusing on long-term investments in the grand health sector in alignment with China Pacific Insurance’s “352” Grand Health Service Blueprint. It aims to realize economic value through asset-liability matching and support the creation of a closed-loop ecosystem integrating “insurance + health services.”

October Capital is a rapidly growing, emerging private equity investment management firm founded by former senior executives from leading Chinese securities firms, along with core members of their equity investment and investment banking teams. October Capital operates three management platforms, with assets under management exceeding RMB 5 billion. Since 2016, it has invested in more than 80 projects, with nearly 30 portfolio companies successfully listed on China’s A-share market and close to 10 projects having filed for initial public offerings (IPOs).

Gaoyuan Capital was established in 2019. Adhering to the core investment philosophy of “discovering value, enhancing value, and creating value,” the firm focuses on technological innovation and high-growth sectors. It delivers value creation for enterprises through equity investments, refinancing (private placements/convertible bonds), block trades, and exchangeable bonds, primarily within the semiconductor, new energy, new materials, and healthcare industries. The company’s cumulative assets under management (AUM) exceed RMB 20 billion, with current outstanding AUM standing at RMB 6 billion (RMB 4 billion in pre-IPO/PIPE investments and RMB 2 billion in primary market investments). In the primary equity market, Gaoyuan Capital prioritizes mature-stage projects, integrating resources from industry-leading listed companies and industrial partners, while employing an investment strategy that emphasizes selective top-tier projects and concentrated, large-scale holdings.